Barclays Bank

Moody's has cut its rating on the guaranteed debt of Barclays and Lloyds following the downgrade of the UK's credit rating last week.

The FTSE continued to make huge gains in afternoon trading, reaching its highest level since late March after the Federal Reserve unveiled its third round of quantitative easing.

The UK's Serious Fraud Office has revealed it is investigating payments between Barclays and Qatar Holding during the credit crisis, in yet another blow to the bank.

Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November, following press reports yesterday.

Sir David Walker, a former deputy governor of the Bank of England, will become the new chairman of Barclays, according to reports.

The British Bankers Association (BBA) has come under fire from a former member of the LIBOR compilation team at Thomson Reuters, who claims the organisation was told on a weekly basis in 2008 that the rates were being distorted.

Senior FSA executive Andrew Bailey has accused Barclays of operating with a "culture of gaming" which came from top of the bank.

Odey Asset Management founder Crispin Odey has been picking up shares in Barclays Bank after the share price fell more than 15% in a single day.

Former Barclays chief John Varley is no longer in the running for the top job at the Bank of England, Investment Week understands.

There were fiery exchanges at Barclays' AGM today, as shareholders grilled CEO Bob Diamond over his pay packet, the PPI mis-selling scandal, and the value of the bank's shares.